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Multistage Communication With And Without Verifiable Types

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  • FRÉDÉRIC KOESSLER

    ()
    (Paris School of Economics (PSE), 48, Boulevard Jourdan, 75014 Paris, France)

  • FRANÇOISE FORGES

    ()
    (Ceremade, Université de Paris-Dauphine, Place du Maréchal de Lattre de Tassigny, F-75775 Paris Cedex 16, France)

Abstract

We survey selected results on strategic information transmission. We distinguish between "cheap talk" and "persuasion". In the latter model, the informed player's message set depends on his type. As a benchmark, we first assume that the informed player sends a single message to the decision maker. We state characterization results for the sets of equilibrium payoffs, with and without verifiable types. We then show that multistage, bilateral communication enables the players to achieve new equilibrium outcomes, even if types are verifiable. We also propose complete characterizations of the equilibrium payoffs that are achievable with a bounded number of communication rounds.

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Bibliographic Info

Article provided by World Scientific Publishing Co. Pte. Ltd. in its journal International Game Theory Review.

Volume (Year): 10 (2008)
Issue (Month): 02 ()
Pages: 145-164

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Handle: RePEc:wsi:igtrxx:v:10:y:2008:i:02:p:145-164

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Related research

Keywords: Cheap talk; certification; incomplete information; information transmission; jointly controlled lotteries; verifiable types; C72; D82;

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  1. Blume, A., 1991. "Equilibrium Refinement in Sender-Receiver Games," Working Papers 91-28, University of Iowa, Department of Economics.
  2. Renault, Jérôme, 2000. "On Two-Player Repeated Games with Lack of Information on One Side and State-Independent Signalling," Economics Papers from University Paris Dauphine 123456789/6109, Paris Dauphine University.
  3. Robert J. Aumann, 1995. "Repeated Games with Incomplete Information," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011476, December.
  4. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-51, November.
  5. Jérôme Renault, 2001. "3-player repeated games with lack of information on one side," International Journal of Game Theory, Springer, vol. 30(2), pages 221-245.
  6. Watson, Joel, 1996. "Information Transmission When the Informed Party Is Confused," Games and Economic Behavior, Elsevier, vol. 12(1), pages 143-161, January.
  7. Daniel J. Seidmann & Eyal Winter, 1997. "Strategic Information Transmission with Verifiable Messages," Econometrica, Econometric Society, vol. 65(1), pages 163-170, January.
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Citations

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Cited by:
  1. Mikhail Golosov & Vasiliki Skreta & Aleh Tsyvinski & Andrea Wilson, 2011. "Dynamic Strategic Information Transmission," EIEF Working Papers Series 1110, Einaudi Institute for Economics and Finance (EIEF), revised May 2011.
  2. Frédéric Loss & Estelle Malavolti & Thibaud Vergé, 2013. "Communication and Binary Decision : Is it Better to Communicate ?," Working Papers 2013-50, Centre de Recherche en Economie et Statistique.
  3. Forges, Françoise & Vida, Péter, 2013. "Implementation of Communication Equilibria by Correlated Cheap Talk : the Two-Player Case," Economics Papers from University Paris Dauphine 123456789/8159, Paris Dauphine University.

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